Rentokil Initial PLC
27 September 2000
RENTOKIL INITIAL MAKES FURTHER DISPOSALS FOR £17 MILLION
Rentokil Initial announces that, as part of its programme
of disposing of non-core businesses, it has sold two
businesses to their managements for a total of £17
million. Its UK scaffolding business, Initial Deborah
Services, has been sold for £6.5 million, and Sparrows
Offshore Services Limited was sold for £10.5 million.
In 1999 Initial Deborah Services had a turnover of £45.8
million and Sparrows Offshore Services had a turnover of
£26.7 million.
Sir Clive Thompson, the Chief Executive of Rentokil
Initial, commented that:
'These sales bring total sales proceeds to date for the
disposal of non-core activities to £562 million. We
expect to complete the disposal programme by the end of
the year as planned and in line with our target of
achieving proceeds of at least £600 million.'
Press enquiries:
Sir Clive Thompson, Chief Executive
C T Pearce, Finance Director
01342 833022
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